Embargo and sanctions are terms often used interchangeably, but they refer to two separate things. The law in each jurisdiction requires firms to comply with relevant rules pertaining to embargoes and sanctions.
Breaching embargoes and sanctions rules is a serious criminal offence in the UK. Penalties include unlimited fines and prison sentences of up to seven years.
We outline everything staff need to be aware of in order to avoid breaching these rules and incurring penalties.